REPORT: Biden saved as much as $500,000 using tax loophole Obama tried to close

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BY TEAM DML / JULY 10, 2019 /

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by WASHINGTONEXAMINER.COM:

Former Vice President Joe Biden saved half-a-million dollars on taxes using a loophole that former President Barack Obama attempted to abolish.

Biden and his wife, Jill Biden, channeled money from book sales and speeches through S corporations rather than claiming to be self-employed, skirting the 3.8% tax, according to tax records released this week and reviewed by the Wall Street Journal. The Bidens saved up to $500,000 with the shuffle.

The article goes on to state the following:

“There’s no reason for these to be in an S corp — none, other than to save on self-employment tax,” RubinBrown LLP accountant Tony Nitti said after reviewing the tax returns.

“Hypocrisy,” tweeted Charlie Kirk, Founder & President of Turning Point USA. “When he was in the White House, Joe Biden tried to repeal a tax loophole that allowed corporations to avoid an additional 3.8% tax. Yet when he filed taxes on his $15 million income, he used that very loophole he tried closing to skip out on $500,000 of taxes.”

“New from me: Biden’s tax returns show that he used a tax loophole that Democrats have spent years trying unsuccessfully to shut down.” — Richard Rubin (@RichardRubinDC) on Twitter

To get more information about this article, please visit WASHINGTONEXAMINER.COM. To weigh in, leave a comment below.

DML News App offered you the above aggregated article preview as part of our ongoing effort to educate and inform people around the world about news, events, and politics. We encourage you to obtain additional information by visiting WASHINGTONEXAMINER.COM

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1 Comment

  1. Nowak July 10th, 2019 at 9:42 pm

    Not suprised it will be quashed by the media because not only is ped. Joe running for president he’s a Democrat. Why dont they check into hunters finances?


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